Virginia § 23.1-618 Loans to students

Virginia Statutes

§ 23.1-618 — Loans to students

Virginia § 23.1-618

JurisdictionVirginia

Title 23.1INSTITUTIONS OF HIGHER EDUCATION; OTHER EDUCATIONAL AND CULTURAL INSTITUTIONS

Subtitle IISTUDENTS AND CAMPUS

Ch. 6FINANCIAL ASSISTANCE

Art. 3STUDENT LOAN FUNDS

This text of Virginia § 23.1-618 (Loans to students) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 23.1-618 (2026).

Text

A.Any institution may make loans from its fund only to needy students who might be unable to attend such institution without such loans and who are duly admitted into degree or certificate programs at the institution. Such loans shall be made upon such terms and according to such rules as may be prescribed by the governing board of the institution.

B.In any one academic year, no student shall receive a loan from the fund of an institution that would result in such student owing a net outstanding amount at the end of that year in excess of the tuition and mandatory fees charged by the institution.

C.The rate of interest charged on loans to students from a fund is three percent annually.

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A. Any institution may make loans from its fund only to needy students who might be unable to attend such institution without such loans and who are duly admitted into degree or certificate programs at the institution. Such loans shall be made upon such terms and according to such rules as may be prescribed by the governing board of the institution.

B. In any one academic year, no student shall receive a loan from the fund of an institution that would result in such student owing a net outstanding amount at the end of that year in excess of the tuition and mandatory fees charged by the institution.

C. The rate of interest charged on loans to students from a fund is three percent annually.